Toyota looks for new chief

TOYOTA president Akio Toyoda, who has been in the top position since 2009, has put the company on notice to find his successor.

Mr Toyoda (66), whose grandfather started the automobile company with its first car in 1934, told shareholders that the company should foster candidates capable of eventually taking the top job. He gave no date for retirement.

He said that a successor must have “unshakable conviction on why Toyota exists” and a firm understanding of the company’s philosophy with a goal to “rejuvenate” management.

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